Elon Musk’s X Aims to Integrate Investment and Trading Features

X, the social media platform formerly known as Twitter, is preparing to expand into financial services by allowing users to invest and trade directly on the app, according to CEO Linda Yaccarino. This move is part of owner Elon Musk’s vision to transform X into a comprehensive “everything app,” similar to China’s WeChat, which combines messaging, payments, and shopping in a single platform.

Speaking at the Cannes Lions festival, Yaccarino revealed that users would soon be able to conduct a wide range of financial transactions on X – from paying friends to making investments. The company is also exploring the launch of an X-branded credit or debit card, potentially by the end of this year.

X is already planning to roll out X Money, a digital wallet and peer-to-peer payment system, in partnership with Visa. The service will debut in the U.S. and will enable users to buy products, store funds, and tip content creators on the platform. While these expansions could broaden X’s functionality and revenue streams, they also expose the company to complex regulatory challenges, including licensing and anti-money laundering compliance.

Since Musk’s $44 billion acquisition in 2022, X has faced financial difficulties amid advertiser departures, triggered by concerns over content moderation and Musk’s controversial presence. Despite tensions between X and some advertisers, Yaccarino stated that 96% of advertisers who were on the platform before Musk’s takeover have returned, and she expects advertising revenue to rebound soon.